CMS BUSINESS PARK - Allsop · 2019-10-31 · Bathrooms Concrete Plant Featherstone Railway Station The Chesney Centre Woodstock Timber Yard 1 Office Accommodation: 7,927 sq ft Distribution

CMS BUSINESS PARK STATION LANE, FEATHERSTONE

WEST YORKSHIRE, WF7 6EQ

PRIVATECLIENT

SINGLE LET INDUSTRIAL, DISTRIBUTION AND OFFICE INVESTMENT OPPORTUNITY

Bathrooms

Concrete Plant

Featherstone Railway Station

The Chesney Centre

Woodstock Timber Yard

1 Office Accommodation: 7,927 sq ft Distribution Warehouse: 15,605 sq ft

2 8 Industrial Units: 9,958 sq ft

3 Site area of 1.16 acres (0.47 hectares)

Subject Property

2

3

1

Site outline for identification purposes only.

SINGLE LET INDUSTRIAL, DISTRIBUTION AND OFFICE INVESTMENT OPPORTUNITYCMS BUSINESS PARK, STATION LANE, FEATHERSTONE, WEST YORKSHIRE, WF7 6EQ

CMS BUSINESS PARK, STATION LANE, FEATHERSTONE, WEST YORKSHIRE, WF7 6EQ SINGLE LET INDUSTRIAL, DISTRIBUTION AND OFFICE INVESTMENT OPPORTUNITY

INVESTMENT CONSIDERATIONS

■ Single let Business Park with approximately 7,927 sq ft of office accommodation, a 15,605 sq ft distribution warehouse and 8 individual lock up industrial units

■ The property will be entirely let to CMS Medical Ltd for a term of 15 years (TOB after 10 years) at a passing rent of £130,000 pa

■ 5 yearly reviews on RPI basis per annum compounded (2%-4% collar and cap)

■ The property measures approximately 33,694 sq ft which equates to a very low capital value of £41.55 psf and an extremely low passing rent of £3.86 psf

■ Well located and established Business and Industrial Park in West Yorkshire, 7 miles (11 km) west of Wakefield and 15 miles (24 km) North West of Leeds.

■ Featherstone benefits from excellent road communications being located in close proximity to both the M62 and A1

■ Freehold

■ We are seeking offers in excess of £1,400,000 (One Million Four Hundred Thousand Pounds) subject to contract and exclusive of VAT. This shows a net initial yield of 8.75% after allowing for purchaser’s cost of 6.05%.


LOCATION

The town of Featherstone is located within the county of West Yorkshire approximately two miles (3.2 km) south west of Pontefract. According to the 2011 census the town has a population of just over 15,200. The town is located in close proximity to Wakefield 7 miles (11 km) to the west, Leeds 15 miles (24 km) to the north west and Sheffield 30 miles (48 km) to the south.

Featherstone benefits from very good communications situated in close proximity to the M62 with access via junctions 30, 31 and 32. The A1 is located just 4 miles east of the town with access via the M62 linking Scotland to the south of England. South of Featherstone the A638 connects the town to Wakefield to the north west and Doncaster to the south east.

Featherstone also benefits from its own train station which runs regular direct services to Wakefield (14 minutes), Pontefract (7 minutes), Knottingley (13 minutes) and Leeds (34 minutes).

SITUATION

The property is situated on the west side of Station Lane just to the north of the main town centre in an established business park approximately a 2 minute walk north of Featherstone train station. The immediate area is a mix of residential, office and industrial accommodation and occupiers in close proximity include Frontline Bathrooms, Betfred, Upper Crust, Integrated Parking Services and rugby league’s Featherstone Rovers amongst a number of small businesses and local traders.

DESCRIPTION

The property comprises a site of 1.16 acres (0.47 hectares) consisting of office, warehouse and industrial accommodation built in 2004 with a large concrete yard. To the front of the property there is a serviced office measuring approximately 7,927 sq ft which fronts onto Station Lane. To the rear of the offices is a 15,605 sq ft steel portal frame distribution warehouse which benefits from institutional grade eaves heights of approximately 7.2 metres and ridge heights of approximately 9.7 metres. To the rear of the site there are 8 steel portal framed individual industrial starter units with front roller doors, of which 3 are currently sublet to local traders.

There is a large car park to the front of the site with parking for some 25 cars and access to the entire property is via Station Lane. For delivery access there is a small internal roadway that runs from Station Lane to the distribution warehouse and industrial units to the rear.

BlackpoolInternationalAirport

WartonAerodrome

LiverpoolJohn LennonAirport

HawardenAirport

ManchesterInternationalAirport

Humberside Airport

Leeds/Bradford

M1

M1

M1

M6

M6

M6

M55

M606M621

M180 M181

M18

M18

M65

A1(M)

A1(M)

A1(M)

A1(M)

M60

M60M62

M62

M67

M66

M58

M58M53

M62

M62

M61

Yorkshire Dales National Park Authority

Peak District National Park

Lincolnshire Wolds

Lancaster

Blackpool

Morecambe

Warton

Barrow-in Furness

Preston

LIVERPOOL

MANCHESTER

SHEFFIELD

GRIMSBY

Chesterfield

Gainsborough

Worksop

Skegness

SCUNTHORPE

LINCOLN

Doncaster

Rotherham

BRADFORDLEEDS

Pontefract

Knottingley

YORK

HULL

Bolton

Wigan

Warrington

Chester

Stockport

OldhamBarnsley

Wakefield

Harrogate StamfordBridge

Buxton

Glossop

BLACKBURN

Burnley

Keighley

RochdaleHUDDERSFIELD FEATHERSTONEFEATHERSTONE

Halifax

Ilkley

LythamSaint Annes

WAKEFIELD ROAD

PONEF

RACT ROAD

A639

CARLETON ROAD

CASTLEFORD ROAD

PARK LANE

CHURCH ROAD

A655

CROSSLEY STREET

B61

33

MIL

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NE

CUTSYKE ROA

D FEATH

ERSTONE LANE

ACKWOR

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MONKHILL LANE

DONCASTER ROAD

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A62

8

M62M62

PONTEFRACT

EAST HARDWICK

FEATHERSTONESTREETHOUSE

Streethouse

Featherstone

Pontefract Tanshelf

Glasshoughton Railway

ACKTON


ACCOMMODATION SCHEDULE

Unit Floors Sq M Sq Ft Comment

MAIN BLOCK

Distribution Warehouse Ground 1,449.67 15,605

Office Accommodation Ground 223.42 2,405 Offices 15, 17 & 21 are sub-let on licences and the tenants are currently holding over. Further information on all the sub-lettings can be provided on request and are available in the data room.First 255.44 2,749

Second 257.63 2,773

Toilet Block Ground 18.96 204

Sub Total 2,205.12 23,736

INDUSTRIAL UNITS

Unit 1 Ground 70.06 754

Mezzanine 36.56 393


Mezzanine 44.25 476


Mezzanine 51.44 554


Mezzanine 56.11 604


Mezzanine 56.11 604

Unit 6 & 7 Ground 165.25 1,778 Units 6 & 7 are sub-let on a licence and the tenant is currently holding over.


Mezzanine 44.25 476

Sub Total 925.23 9,958

Total 3,130.35 33,694

Measurements are provided by the vendor. Any purchaser should carry out their own measurement survey and due diligence.


SITE AREA

1.16 acres (0.47 hectares).

TENURE

Freehold

TENANCY

The property will be let in its entirety by way of a sale and leaseback to CMS Medical Limited on a full repairing and insuring lease for a term of 15 years from completion with a tenants break option in year 10.

The proposed passing rent will be £130,000 per annum exclusive of VAT and the lease will be subject to annual Retail Price Index linked rent reviews compounded on a 5 yearly basis. The RPI uplift is subject to a collar of 2% and a cap of 4%. This rent equates to a very low passing rent of £3.86 psft.

The tenant is prepared to offer a years rent deposit (£130,000).

51.5m

Shelter

Tanks

Mast (Telecommunication)

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WALK

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Yard

Works

Green Lane Business Park

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Works

60a to 60

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8

9to

21

21

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8

JAMES GIBBS

2

1

5

68

58

11

0m 25m 50m 75m

Ordnance Survey © Crown Copyright 2018. All rights reserved. Licence number 100022432. Plotted Scale - 1:1250© Crown Copyright, ES 100004106. For identification purposes only.


COVENANT

CMS Medical is a manufacturer of first aid supplies and liquid fill products with their HQ in Featherstone. The business was started in 1999 and in September 2015 was bought by Nova Medical Solutions Limited to provide them with manufacturing and logistical facilities.

In the past 12 months the business has gone through a restructuring process with a focus on investment for the automation of its production line to meet the demand for larger client orders. A new management team has also been put in place to ensure the continued transformation and a further £200,000 of investment has been planned for this year.

31 Mar 2017

31 Mar 2016

31 Oct 2014

Tangible Net Worth £881,857 £989,916 £551,940

Net Current Assets (Liabilities) £191,484 £414,433 £135,387

For the past 3 years CMS Medical Ltd have reported the following:

PRIVATECLIENT

Misrepresentation Act: 1. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, gives notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither Allsop LLP nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. 2. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Allsop is the trading name of Allsop LLP. Design CommandD www.commandHQ.co.uk 04.18

Disclosure Information: For the purpose of disclosure, one of the shareholders and directors of CMS Medical Limited is the father of a member of Allsop staff. Further information can be provided on request.

www.allsop.co.uk

For further information or to make arrangements for viewing please contact:

PRIVATE CLIENT TEAM

EPCCan be provided on request.

VATThe property is elected for VAT.

DATAROOMFor access to the Allsop dataroom please use the following link:https://datarooms.allsop.co.uk/register/Featherstone

PROPOSALWe are seeking offers in excess of £1,400,000 (One Million Four Hundred Thousand Pounds) subject to contract and exclusive of VAT. This shows a net initial yield of 8.75% after allowing for purchaser’s cost of 6.05%.

Liam Stray020 7543 [email protected]

Ronnie Morgan020 7543 [email protected]

Documents

CMS BUSINESS PARK - Allsop · 2019-10-31 · Bathrooms Concrete Plant Featherstone Railway Station The Chesney Centre Woodstock Timber Yard 1 Office Accommodation: 7,927 sq ft Distribution